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Labor rate variance and the labor efficiency variance

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Reference no: EM132643705

At Greencastle, the standard quantity of labor is 21 hours per refrigeration unit. The standard wage rate is $33. In July, the company produced 82 refrigeration units and incurred 2,050 labor hours at a cost of $63,550.

Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable.

Labor Rate Variance $___________________ (Favorable/Unfavorable/neither)

Labor Efficiency Variance $ ______________ (Favorable/Unfavorable/neither0

Reference no: EM132643705

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